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RE: MaaS - Money as a Service -Cryptocurrency
do you like to imagine who this whole industry may develop?
This was probably a typo but I think it's a great one. The internet developed from a few meganerds older than I am, to my generation which learned it as teenagers and adults and adopted it and built it out, to the Millennials who exist within it like water.
Blockchain will probably go very much the same way. We're the old nerds, and we have the opportunity to be the specific old nerds who learn everything about how this new thing works and direct it and teach it to the next generations and reap the rewards of that.
You are right, it was a typo and I agree, maybe a Freudian one. :) lol, I agree with what you said as well. In my life I've been able to watch first computers and then the internet change the world, I think I will get to see a big part of how crypto may change the world economy and put power back in the hands of those who would like to make peer to peer transactions, with confidence and privacy.. (maybe, depending on the token)
There is no question the early adopters will have an advantage.
We can do this via cash still, but for obvious reasons, carrying a bunch of cash around makes little sense. Most people have little need to replace their credit card or cash. That's why I have a hard time grasping why crypto currencies would ever take off as a true currency. Even fewer people need to hide their money spending as well. So why would it ever be mass adopted for spending purposes?
I've always imagined that cryptocurrencies would be come the next version of stocks instead.
Stocks represent stake in a company, but the ledger was always with the stock exchanges and you'd have to sell your stake at the exchange and move your money through a clearing house to get it. No one would use stocks as money, but what if you could? Then you would have something like a cryptocurrency, which is exchanging stake in a company for something.
The obvious issue here is how crypto compares to home currencies. I live and work in the US, so my main goal is to get more usd or be rich in the currency that gives me the most value in a life where that currency is accepted. So early adoption isn't about the tech , it's about understanding the people who want to use the tech to I crease productivity.
Right now, most of those currencies are high level attempts at solving problems that do not really exist.
Let me rephrase that. They aren't problems that exists with the general public members of society, but they are problems that exists within broader financial systems that we are a part of.
Interesting point of view regarding the "New Stock Market" I can see that as well.
I do think there is a case for peer to peer transfer of assets without requirements of banking or carrying around cash. But heck we can have both.
Peer to peer is free already through services like venmo which is highly popular. You can pay a small fee and have it deposited in your bank instantly. Why would anyone use a crypto to do the same thing? Especially if the value will never stabilize?
So I don't think there is any value in a large scale peer to peer setup. Instead the coins would act as stock value in a company. That's why I think steem will be successful once the proper nodes are setup to allow app development (just like how Facebook become a giant with their api)
I like to pull one for @aantonop, where he painted a picture of how post Gen-Z kids would be frustrated at the clunky mechanism of global remittance and the archaic banking laws.
"why the heck i can't send 69 cents to Juarez from Cebu at 3:26am on a Saturday instantly", "what do you mean I can't have a Paypal business account at the age of 13, why the hell should my parents own the account to my media startup when they did nothing?", things like that.
Millennials gets angry when a webpage loads 0.3 seconds slower than usual, you think a "2 business day" banking policy is something they'd put up with?